Harlem Condo Alert: The Alycia Completely Sold?

By HarlemGal,
I walk down 114th Street between Frederick Douglass and Manhattan Avenue all the time heading to Morningside Heights Park. When you take this walk, you see construction every where in this area. Just the other day I noticed the netting/scaffolding all over one particular lot was now down and the new structure donned a big banner with the words The Alycia. I checked out their website and according to The Alycia, this place will be condos with all the trimmings of a new home. The site also claims all units are SOLD, which is quite impressive given current market conditions. Maybe that explains when I walked by the other day, the big banner existed no more.

HarlemCondoLife

We’re not surprised folks purchased condos in this area and plan to move to Central Harlem. After all, HarlemCondoLife lives and blogs in Harlem. My only lingering question is when were these units sold – a year or six months ago? We called the real estate company representing this building for further details. No word yet. However, if you know something before or if they get back to us, please chime in.

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6 Comments

HCL was recently attacked on another blog for no reason about this story. No quite sure why, but here is our response. We are sharing due to the fact the the site has to approve the comment. They could reject our response. Therefore we are posting it here as well just in case.
Response to HarlemKids or also known as ManhattanKids:
“HarlemCondoLife would like to respond to the negative and unfounded attack toward them on this blog. We’re not sure why this is happening. However there is no better time like the present to kindly and professionally state the correct facts. First of all, we are not “a mouthpiece for local developers.” I don’t know where this blog got that from and on whose behalf they are speaking on by saying “it is commonly known.” However, I am happy to clear the air on behalf of HCL. As one of the five bloggers, I can confirm that no developer, let me repeat NO LOCAL DEVELOPER is involved in our site. Feel free to ask or contact any of the other bloggers on HCL. Better yet, I would like to challenge Manhattankids to step forward with any proof and name names of developers we are involved with. If this is in fact true, the blogger should have no problem stepping forward with proof to support his or her words. Second, step forward and prove who its commonly known by. HCL is happy to address any inaccuracies with any other pundits, but we can’t if we don’t know who they are. Kindly and respectfully prove this statement. And last, I can confirm that HCL is not “an independent journalism outlet.” Actually we are five independent bloggers posting about our life in Harlem. That’s it, nothing more nothing less. Wish there was more, but there’s not. And that is the correct facts folks. Quickly again, HCL is not clear why this blog wants to harm us with malicious and negligent words, however, we are responding to defend our site and its integrity. Its the right thing to do. In closing, feel free to check out our blog any time any day at Harlemcondolife.com. We are just another Harlem blogging voice out there for your consideration. Thanks for the opportunity to respond! See ya around in Harlem!”

Thanks for all the comments.
I walked by this building the other day and the banner to contact the sales office is back up. Maybe they do have apartments available? The Corcoran Group is representing this building. I have left several messages for the agent from Corcoran and they have not returned my call and email messages. Not a good thing.

Welcome to the Neighborhood, Alycia owners!
Roy Huntley got shot in the head around the corner on 112th Street in September 2008, and there was an armed robbery on Christmas Eve
at West 111th Street and Frederick Douglass Boulevard (8th Avenue) where local crack head
Parker allegedly choked the victim while demanding money. He then swiped $56 and a cellphone from him. Its a great nabe; you’ll love it!

It turns out that 11 of the 12 buyers have walked away from their contracts. The folks that walked away worked for Lehman, Bear Stearns, AIG, etc. and their mortgages were from Countrywide and IndyMac and are no good anymore. The only money thet have to close with is held by Madoff Securities.

There are only 12 apartments at The Alycia at 304 West 112th Street and they do in fact have 12 signed contracts. Unfortunately, the 12 buyers worked at the following companies when they signed their contracts: AIG, Lehman Brothers, Fannie Mae, Bear Stearns, Circuit City, Freddie Mac, Madoff Securities, Nortel, Sharper Image, Merrill Lynch, Citigroup and Wachovia. To make matters worse, all 12 buyers got their mortgages using no money down, 40-year amortization, interest only financing with no payments required in the first 2 years from IndyMac, WaMu, Countrywide, and New Century. So it remains to be seen if these buyers will show up to the closing table. I blog all about Harlem real estate at http://www.manhattankids.blogspot.com, so check it out. Please see my brand new Harlem Real Estate Report 2009 here:http://manhattankids.blogspot.com/2009/01/harlem-real-estate-market-report-2009.html

This report explains the 8 factors that are now driving Harlem real estate pricing.